TNBiz (TNBiz)
Markets  |  August 01, 2012 14:15:06

The state budget deficit declined in late July


PRAGUE (MEDIAFAX) - State budget deficit of the Czech Republic at the end of July, down from June's 71.7 billion to 51.7 billion crowns in revenue 597.4 billion crowns and expenditures of 649.1 billion crowns. In the middle of informing the Ministry of Finance (MoF), the annual deficit of 9.4 billion lower.

"Development of assumptions corresponds to the Finance Ministry. There is no reason for rejoicing, not to panic. Indemnity for January to July is always based on something better than the previous month," said Deputy Minister of Finance for public budgets, Jan Gregor. Crucial to meet the budget target will restore it by drawing funds from EU funds.

Achieved total revenues of 597.4 billion crowns represented 55 percent of the budget changes (implemented in July 2011 to 55.3 percent) and against the same period of 2011 were higher by 6.4 billion.The budget for changes expected to rise by 7.3 percent against the reality of 2011. The lower than expected growth in state revenues has the most revenue from the EU, whose collection is the same period of 2011 decreased by 5.2 billion crowns.

Total expenditures in the amount of 649.1 billion crowns drawn at the end of July 2012 representing 54.4 percent of the budget changes (in July 2011 it was 54.2 percent), and are about three billion below July 2011. Against this fact, 2011 suggest changes to the budget increase of 3.2 percent.

The state budget for 2012 foresees revenue of 1.0847 trillion crowns, spending 1.1897 trillion crowns and a deficit of 105 billion crowns.

(The report issued by the Agency infographics unless otherwise indicated.)

Jan Soukup, soukupj@mediafax.cz

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